BTCUSD on TradingView.com<\/a><\/p>\nAn upside break above $28,000 might send the price toward the main resistance at $28,500. A close above the $28,500 resistance zone might start a strong increase toward the $29,200 resistance zone. The next key resistance is near $29,400, above which the price might rise toward the $30,000 resistance.<\/p>\n
More Losses in BTC?<\/h2>\n If Bitcoin\u2019s price fails to clear the $28,000 resistance, it could continue to move down. Immediate support on the downside is near the $27,580 level.<\/p>\n
The next major support is near the $27,500 zone, below which the price might gain bearish momentum. In the stated case, the price could decline toward the $27,150 support and the 100 hourly Simple moving average.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level.<\/p>\n
Major Support Levels \u2013 $27,580, followed by $27,500.<\/p>\n
Major Resistance Levels \u2013 $28,000, $28,400, and $28,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is correcting gains from $28,400. BTC must stay above the $27,500 support to start a fresh increase in the near term. Bitcoin is correcting gains below the $28,000 support zone. The price is trading above $27,500 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if the bulls manage to protect the $27,500 support. Bitcoin Price Corrects Lower Bitcoin price started a decent increase above the $28,000 resistance zone. However, BTC struggled to clear the $28,400 and $28,500 resistance levels. A high was formed near $28,450 and the price started a downside correction. There was a move below the $28,000 support zone. The price declined below the 50% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high. Besides, there was a break below a major bullish trend line with support near $27,720 on the hourly chart of the BTC\/USD pair. Bitcoin price is still trading above $27,500 and the 100 hourly Simple moving average. It is finding bids near the 61.8% Fib retracement level of the upward move from the $27,142 swing low to the $28,450 high. Immediate resistance on the upside is near the $27,800 level. The next major resistance is near the $28,000 level. Source: BTCUSD on TradingView.com An upside break above $28,000 might send the price toward the main resistance at $28,500. A close above the $28,500 resistance zone might start a strong increase toward the $29,200 resistance zone. The next key resistance is near $29,400, above which the price might rise toward the $30,000 resistance. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $28,000 resistance, it could continue to move down. Immediate support on the downside is near the $27,580 level. The next major support is near the $27,500 zone, below which the price might gain bearish momentum. In the stated case, the price could decline toward the $27,150 support and the 100 hourly Simple moving average. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level. Major Support Levels \u2013 $27,580, followed by $27,500. Major Resistance Levels \u2013 $28,000, $28,400, and $28,500.<\/p>\n","protected":false},"author":67,"featured_media":464159,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-535597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Just Saw Technical Correction, Can Bulls Save The Day?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n